EBRI Studies Displaced Workers

February 19, 2002 (PLANSPONSOR.com) - Research by an
industry group shows that the current economic slump is
certainly painful for many people, but it's not quite as bad
in some respects as the early 1990s.

The study by The Employee Benefit Research Institute
(EBRI) found that:

about 7.5 million employees or 6% of the workforce
lost a job because of the slumping economy between 1997
and 1999, down from the 9.4 million workers or 8.2% of
the population between 1993 and 1995,

some 35% of those who lost jobs during the 1993 to
1995 period attributed it to a plant closing or a plant
relocation, compared to 42% between 1997 and
1999,

two fifths of those who lost jobs during the 1993 to
1995 time period say it happened because there wasn’t
enough work, compared to(33% between 1997 and 1999,
and

a quarter of respondents, over both periods, say it
was due to a job shift or abolished job

The survey also revealed that:

in general, younger workers were more likely than
older workers to experience a job displacement during the
two time periods,

not all displaced workers will lose retirement
benefits from their current job since they may not have
any retirement benefits to begin with because of their
age and tenure

The report uses estimates from the February 2000
Displaced Worker Survey supplement to the Census Bureau’s
Current Population Survey. EBRI officials say they hope
their data will become part of the Congressional debate
over economic stimulus bills.